March 20, 2008

Law or Legislation?

Really, if it is complex, i.e., hard to understand and changes frequently does it really rise to the level of law?

Borrowers should determine if they live in a state with nonrecourse laws. In general, lenders in those states cannot pursue borrowers for money owed. But these laws are complex and change often, so consulting with a lawyer may be necessary, Mr. Geller said.
I think not.

Rather, it is mere legislation most likely enacted to fulfill someone's rent seeking desires.

Posted by Steve on March 20, 2008
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